Finance

BlackRock discrimination allegations — Banker exodus to Miami — Morgan Stanley’s big cloud push

Good morning and welcome to Insider Finance. I’m Dan DeFrancesco, and here’s what’s on the agenda today:

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Thousands sign online petition created by former BlackRock employee calling on the firm to address discrimination allegations

larry fink

Chairman and Chief Executive of BlackRock Laurence Fink speaks during a session at the World Economic Forum (WEF) in Davos January 25, 2014.
REUTERS/Ruben Sprich

A petition created by a former BlackRock employee has drawn thousands of signatures as it calls on the firm to address harassment and discrimination allegations. Read more here.


Kirk McKeown is leaving Steve Cohen’s Point72, the 2nd recent senior data exec to depart the hedge fund in the past 2 months

steve cohen

REUTERS/Steve Marcus

A second top data executive has left Steve Cohen’s Point72 hedge fund in as many months. Read more here.


Inside Miami’s red-hot real-estate market, fueled by finance and tech transplants from both coasts

miami fl

Rocky89/Getty Images

The New York-to-Miami shift for financial firms continues. Read more here.


A wave of innovation is transforming IPOs. 3 insiders lay out what changes are next – and what could bring it all crashing down.

uber ipo

Uber CEO Dara Khosrowshahi at the NYSE in May 2019.
Spencer Platt/Getty Images

A panel of IPO experts from Goldman Sachs, Lead Edge Capital, and Latham & Watkins spoke to Insider about the explosion of options to enter public markets. Read more here.


Morgan Stanley just tapped a 34-year veteran of the firm as its first-ever head of cloud and architecture as the bank embarks on a broader adoption of the tech

Bobby Gilja, Morgan Stanley

Bobby Gilja, Morgan Stanley
Morgan Stanley

Morgan Stanley named its first-ever head of cloud and architecture, a nod to its push to lean on more of the tech. Get the full rundown here.


GENERATION ROBINHOOD: How the trading app conditioned inexperienced users to obsessively play the market

robinhood gamification trading app 4x3

Robinhood; Samantha Lee/Insider

Insider spoke to Robinhood users and experts to see how the app is so good at getting its inexperienced customers obsessed with playing the market. Click here to read the entire story.


Lazard CEO Ken Jacobs just dropped some clues about how his firm plans to grow its $259 billion asset manager, which includes scooping up talent from smaller firms and promoting 7 MDs

Ken Jacobs Lazard

Kenneth Jacobs is the chief executive officer of Lazard.
James Leynse/Getty Images

Lazard executives said they’re eyeing “smaller teams” as a way to bulk up their asset manager. Find out more here.


Billionaire Lee Ainslie is telling investors that his $9 billion Maverick Capital is ‘poised to take advantage’ of the post-GameStop-frenzy market

Lee Ainslie

Craig Barritt/Getty Images

Billionaire Lee Ainslie believes there are long and short opportunities in the wake of the surge in retail trading. Read more here.


Inside Robinhood’s 5 days of chaos

Vlad Tenev Robinhood

Rafael Henrique/SOPA Images/LightRocket via Getty Images, Brendan McDermid/Reuters

Here’s a breakdown of how the past week has been for Robinhood, the app at the center of the GameStop frenzy. See more here.


Wall Street people moves of the week: Here’s a rundown of promotions and new hires at firms like Goldman Sachs and Deutsche Bank

Peter Akwaboah of Morgan Stanley

Peter Akwaboah of Morgan Stanley
Morgan Stanley

Here are all the biggest people moves across Wall Street from the past week. Check them all out there.


Odd lots:

17 top cannabis investors lay out how the spread of legal marijuana will fuel a deal boom and drive investment in the upstart industry (BI)

Renaissance Hit With $5 Billion in Redemptions Since Dec. 1 (Bloomberg)

Cathie Wood Has Wall Street’s Hottest Hand. Maybe Too Hot. (WSJ)

A health insurer backed by Chamath Palihapitiya is in the hot seat after a scathing short-seller report. Here’s how Clover Health responded to 4 of the biggest claims. (BI)

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